Turnover ratios show how efficiently assets or other items have been used to generate revenue from operations. They are also called as activity ratios or efficiency ratios.
The important turnover or activity ratios are:
(i) Inventory turnover ratio
(ii) Trade receivables turnover ratio
(iii) Trade payables turnover ratio
(iv) Fixed assets turnover ratio

Ethical are being violated as the employer is not right in this conduct.

(i) In the case of over subscription, the shares are allotted to the public with certain number lesser than the number of shares they applied for, in certain basis.
(ii) It is called pro - rata allotment.

Trend refers to the tendency of movement. Trend analysis refers to the study of movement of figures over a period. The trend may be increasing trend or decreasing trend or irregular

Income and expenditure account is prepared by a non-profit organization and is a summary of income and expenditure of the accounting year.
Income and expenditure account is akin to profit and loss account because of the following similarities
which are observed amongst these accounts.
(i) Both are nominal accounts.
(ii) Both are one prepared on accrual basis.
(iii) Both record revenue items related to current accounting year only.
(iv) In both the accounts, expenses and losses are recorded on the debit side and incomes and gains
are recorded on the credit side

At the time of retirement a partner is entitled to get an amount equal to his share in profits out of firm's goodwill

According to Indian partnership Act, 1932 in the absence of partnership deed, profits are shared equally among the partners. So, the claim of Ramesh to share the profits in the ratio of capitals is not valid.

The individual other than minors who cannot be admitted by them are
(i) Person of unsound mind
(ii) Person of disqualified by law

(i) Simple method: Proprietors, who do not have the proper knowledge of accounting principles. Find it much convenient and easier to maintain their business records under this system.
(ii) Less expensive: It is an economical mode of maintaining records as there is no need to appoint specialised accountant.
(iii) Flexible: Owner may record transactions as particular own needs. It can be easily adjusted or changed whenever needed.
(iv) Less time consuming: Maintaining books according to the single entry system is less time consuming, as only few books are to be maintained. Further the books are not as comprehensive as they are under double entry system.

No, due to legal restrictions, a company cannot maintain its accounts under single entry system.

If the firm enjoys good reputations for its product's quality, there will be higher sales and the value of its goodwill will increase.

(i) These are the amount received by not-for-profit organizations as a gift. It may be a general donation or specific donation.
(ii) General donation: If the donation is received without any specific condition, then it is a general donation. It is a revenue receipt.
(iii) Specific donation: If the donation received with a specific condition particular purpose like donations for sports fund, prize fund, etc., It is known as a specific donation. It is a capital receipt.